ESR Interim Report 2020 (EN)

Notes to Condensed Consolidated Financial Information 30 June 2020 43 NOTES TO CONDENSED CONSOLIDATED FINANCIAL INFORMATION ESR Interim Report 2020 3. OPERATING SEGMENT INFORMATION (continued) Six months ended 30 June 2019 Investment Fund management Development Total (Audited) (Audited) (Audited) (Audited) US$’000 US$’000 US$’000 US$’000 Segment revenue 56,318 61,784 37,661 155,763 – Intersegment sales – 93 – 93 56,318 61,877 37,661 155,856 Reconciliation: Elimination of intersegment sales – (93) – (93) Revenue from continuing operations 56,318 61,784 37,661 155,763 Operating expenses (13,387) (12,467) (51,305) (77,159) Fair value gains on investment properties 26,800 – 76,761 103,561 Changes in fair value of financial assets and liabilities at fair value through profit or loss 711 – 22,107 22,818 Share of profits and losses of joint ventures and an associate, net 17,034 557 726 18,317 Gain on disposal of subsidiaries – – 16,495 16,495 Dividend income 11,848 – – 11,848 Segment result 99,324 49,874 102,445 251,643 Reconciliation: Depreciation and amortisation (7,296) Exchange loss (1,761) Interest income 1,768 Other unallocated gains 379 Corporate and other unallocated expenses (28,772) Finance costs (83,363) Equity-settled share option expense (9,885) Profit before tax from continuing operations 122,713 Other segment information: Depreciation and amortisation (7,296) Capital expenditure* 962,700 Investments in joint ventures 526,085 * Capital expenditure consists of additions to property, plant and equipment, investment properties and intangible assets including assets from the acquisition of a subsidiary.